Sunday, February 27, 2005
Great op-ed piece in today's Washington Post by Michael Kinsley speculating on the housing bubble. He makes some good points.

But I am surprised more people aren't focused on the changing demographics. As the baby boomers retire, more and more of them will be moving out of their big suburban homes and into either smaller townhomes - or as is increasingly happening - into condos in downtown city neighborhoods. After all who wants to do housework and yard work in their golden years?

I think that is where the housing bubble will start to burst, the expensive large suburban homes. It will then work its way through the entire housing market as the investors (who own a very high percentage of the real estate market versus historical standards) sell off their property holdings in a panic looking for the next "get rich quick" phenomenon.

But like Kinsley, I am probably wrong.
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I am an attorney in Chicago. Politically speaking, I am an indepedent that tends to lean conservative on fiscal issues and progressive on social issues. I try to remain as unbiased and open-minded as possible. Please email or post any comments, and especially criticisms. If something I say is wrong, or you disagree - let me know about it!

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